Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) Sees Large Decline in Short Interest

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 2,153 shares, a drop of 54.3% from the August 15th total of 4,707 shares. Based on an average daily trading volume, of 46,203 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Healthcare Capital Acquisition Stock Performance

Shares of HCAC opened at $10.10 on Monday. The stock has a market capitalization of $376.80 million, a PE ratio of 202.00 and a beta of 0.41. The firm’s 50 day moving average is $10.08 and its 200-day moving average is $10.02. Healthcare Capital Acquisition has a 12 month low of $9.91 and a 12 month high of $10.11.

Analyst Ratings Changes

Separately, Weiss Ratings began coverage on shares of Healthcare Capital Acquisition in a report on Monday, August 24th. They issued a “sell (e+)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Healthcare Capital Acquisition stock. BlueCrest Capital Management Ltd acquired a new position in shares of Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 250,000 shares of the company’s stock, valued at approximately $2,510,000. BlueCrest Capital Management Ltd owned approximately 0.67% of Healthcare Capital Acquisition as of its most recent SEC filing. 66.82% of the stock is owned by institutional investors.

About Healthcare Capital Acquisition

Healthcare Capital Acquisition Corp. (NASDAQ: HCAC) was a special purpose acquisition company (SPAC) formed to pursue a business combination with a company in the healthcare industry. As a blank-check company, it did not operate a healthcare business or offer its own products and services.

Its investment focus was broadly oriented toward healthcare, life sciences, medical technology, pharmaceuticals, biotechnology, diagnostics and related sectors. The company’s principal activity was identifying a suitable target, negotiating a transaction and obtaining approval from its shareholders and other stakeholders.

Because Healthcare Capital Acquisition Corp.